Long Term Outlook on Intel Intel is meeting all of the requirements of a Bearish Crab pattern . The prediction of the D leg slams right into previous structure of monthly resistance of the wave II cycle at $34.34. Would make for a perfect PRZ. Also, If we could get some divergence on the RSI, that would make for a better confirmation . Let's see where price action takes us.
******************************************************************************
For inquires of education, live trading room, or prop trader funding email
epicdaytrading@gmail.com
Skype: epicdaytrading
PH: +1 940-448-0281
******************************************************************************
Intel
INTC wedge in strong uptrendMarket is choppy in 2014 with lack of continuation moves both sides. So, theme of the year is stock specifique approach. I am looking for strong stocks, buying pullbacks and support.
Intel is in strong uptrend since the beginning of 2013 year.
Now, stock is wedging. Support at $26.00 could be our stop.
Next resistance (target is $27.12 double top)
If it will break down $26 where 50 MA lies, then next buyable area could be 200MA and major trend line at $24.50-.75.

